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Making Financial Health a Global Reality: Four Strategic Directions for Increasing Customer-Centricity and Business Growth
Financial service providers that focus on improving their customer experience report growing revenue and greater profits. Yet as Pallavi Dhakal, Ankita Singh and Neha Kumar at UNCDF’s Centre for Financial Health point out, despite some notable progress, the financial services sector still has far to go to achieve customer-centricity – particularly in emerging markets. They share in-depth research that explores how providers in these markets can become more customer-centric by prioritizing financial health in their business strategy.
- Categories
- Finance
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Linking the Needs of Customers and Providers: A Framework for Effective Financial Health Measurement
Many financial service providers (FSPs) want to improve the financial health of their low-income users, but they often struggle to measure it. According to Nishant Kumar and Sonal Agrawal at Lakshya, one key challenge is that many FSPs don't see the business benefits of investing in financial health measurement. They share three principles that can help providers understand the distinct needs of different user groups, and develop a measurement methodology that links customers with interventions that impact their financial health – while boosting the FSPs' bottom line.
- Categories
- Finance, Impact Assessment
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Press Release: Financial Uncertainty in America: 2021 Financial Health Pulse Shows Government Aid Improved Financial Health but Gains at Risk as Relief Programs Subside and Pandemic Lingers
Two-thirds of Americans are still financially unhealthy with particular challenges facing women, LGBTQ+ communities, and people with disabilities; inequities remain by race and gender
- Categories
- Finance
- Region
- Global
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Shifting from Financial Inclusion to Financial Health: Strategic Focus Areas for Providers and Other Stakeholders
In the past decade, 1.2 billion people around the world have obtained a financial account. But according to Nishant Kumar and Sonal Agrawal at Lakshya, this growing financial inclusion isn't leading to similar gains in financial health – and addressing this challenge will require stakeholders to boost engagement on the demand side rather than just maximizing supply-side efficiency. They propose three key strategic focus areas for improving global financial health, and explore how they differ from the approaches taken to boost financial inclusion.
- Categories
- Finance
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Mexico’s Kavak Drives Away With $700 Million in New Funding, Doubling Its Valuation to $8.7 Billion
Kavak, a Mexico City-based startup that operates a pre-owned car marketplace in Latin America, announced it has raised a massive Series E round that more than doubles the company’s valuation.
- Categories
- Finance, Technology
- Region
- Latin America
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Press Release: UNCDF Releases Cutting-Edge Research on Financial Health
The United Nations Capital Development Fund (UNCDF) in partnership with i3 Program, supported by MetLife Foundation, released its flagship publication, “Delivering Financial Health Globally”.
- Categories
- Finance
- Region
- Global
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Press Release: 2021 FinHealth Spend Report Shows Financially Coping and Vulnerable Households Spent $255 Billion for Everyday Financial Services
Struggling households shoulder greater burden of fees and interest, highlighting the need for innovative solutions that reduce economic pressures
- Categories
- Finance
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Togo: Microfinance Institutions Slow Down on Lending as Overdue Loans Spike Amid COVID-19 Pandemic
Amid the Covid-19 pandemic, microfinance institutions active in Togo considerably lowered loans to the public in the nine first months of 2020.
- Categories
- Coronavirus, Finance
- Region
- Sub-Saharan Africa
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